Homes sold at the fastest rate in United States history in 2021, with the average listing finding a buyer in just one week. Of course, this isn’t normal, so how can you discover how long the home selling process will take you?
There are many more factors to consider than you may think, so keep reading below to learn all you need to know.
It’s All About Location
When selling a house, the process will always go faster if you are in a highly desirable location.
If your home is located near good schools, cafes, restaurants, theaters, bars, and other forms of entertainment, you’ll see many more people inquiring without you needing to put much effort into it.
Cities such as Rochester, Seattle, Philadelphia, Colorado Springs, and Nashville are known to be some of the fasting selling locales.
Seasonal Factors
Homes for sale during the winter months will sell slower than those during the spring and summer months. Because it is colder and more dreary in wintertime, buyers tend to bypass houses that they may normally look at when it is warmer and brighter.
Your house may have tons of foliage around it during the summer but look sparse in December and January. When buyers come to see it when it’s in full bloom, the house can practically sell itself.
Along with this, many buyers are looking to close the sale before the start of the school year or before the beginning of the summer months. This is why May is one of the most popular months for buying a house.
Average Days on Market
When learning how to sell a house, you’ll find that calculating the average days on the market is a key factor. This can let you know if it’s a good time to sell or if you should hold out until the average is shortened.
To calculate it, find a few homes that are listed, and figure out which day they were first posted. Then, count how many days it’s been pending. Add all the numbers of the homes together and divide it by the total number of houses.
If you have a real estate agent, you can also ask them for the average days on the market, as they tend to know this number by heart.
Method of Selling
If foundation issues are discovered during a home inspection, it can lead to negotiation or litigation between you and the buyer. Foundation repair can be an important factor in helping to sell a home quickly. A damaged or weakened foundation can be a major concern for potential buyers, and addressing foundation issues can help to instill confidence in the condition and structural integrity of the home.
The length of the home selling process greatly depends on how you choose to sell.
If you go through a real estate agent, you’ll most likely need to do repairs on your house first and jump through many hoops to get to the closing.
If you choose to sell to cash home buyers, you can sell as-is, which means your house will be sold almost immediately. This is the most hassle-free method, though your house will probably sell for a bit less because you are selling as-is.
Find more here about this process.
Learn All About the Home Selling Process
When learning how long the home selling process will take, you may get a bit discouraged to find that there is no straightforward answer. However, the more you know, the more you can use it to your advantage.
Use these home selling tips to discover what you can do to make your home selling process go as smoothly as possible.
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